UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☑ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from_____to____ Commission File Number 000-33501 NORTHRIM BANCORP, INC. (Exact name of registrant as specified in its charter) For the quarterly period ended June 30, 2025 Alaska 92-0175752 (State or other jurisdic ...

Group 1 - The article discusses the author's long-term investment approach, focusing on REITs, preferred stocks, and high-yield bonds, which began in high school in 2011 [1] - The author has recently combined long stock positions with covered calls and cash secured puts, indicating a strategy that balances risk and return [1] - The primary focus of the author's coverage on Seeking Alpha includes REITs and financials, with occasional insights on ETFs and macro-driven stock ideas [1]

Northrim BanCorp (NRIM) came out with quarterly earnings of $2.09 per share, missing the Zacks Consensus Estimate of $2.26 per share. This compares to earnings of $1.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -7.52%. A quarter ago, it was expected that this holding company for Northrim Bank would post earnings of $1.56 per share when it actually produced earnings of $2.38, delivering a surprise of +52.56%.Over the last ...

Dividends per share in the second quarter of 2025 remained consistent with the first quarter of 2025 at $0.64 per share as compared to $0.61 per share in the second quarter of 2024. "Strong loan growth, increasing asset yields, and stable funding costs drove record net interest income in the second quarter of this year," said Mike Huston, Northrim's President and Chief Executive Officer. "We continue to attract new customers to Northrim and believe we have an opportunity to steadily increase our market shar ...

Financial Performance - Northrim BanCorp reported net income of $11.8 million, or $2.09 per diluted share, in Q2 2025, down from $13.3 million, or $2.38 per diluted share, in Q1 2025, but up from $9.0 million, or $1.62 per diluted share, in Q2 2024 [1][4] - Net interest income increased by 7% to $33.6 million compared to $31.3 million in Q1 2025 and by 24% compared to $27.1 million in Q2 2024 [5][23] - The net interest margin on a tax-equivalent basis (NIMTE) was 4.72% for Q2 2025, up from 4.61% in Q1 2025 and 4.30% in Q2 2024 [5][24] Loan and Deposit Growth - Total portfolio loans reached $2.20 billion at June 30, 2025, a 4% increase from the previous quarter and a 17% increase year-over-year [5][4] - Total deposits were $2.81 billion at June 30, 2025, up 1% from the preceding quarter and up 14% from $2.46 billion a year ago [5][4] Operating Income and Expenses - Other operating income contributed $16.6 million, or 33% of total revenues in Q2 2025, compared to $13.0 million, or 29% in Q1 2025, and $9.6 million, or 26% in Q2 2024 [29] - Operating expenses increased to $32.5 million in Q2 2025 from $28.2 million in Q1 2025 and $25.2 million in Q2 2024, primarily due to higher salaries and personnel expenses [31] Credit Losses and Provisions - Northrim recorded a provision for credit losses of $2.0 million in Q2 2025, compared to a benefit of $1.4 million in Q1 2025 [25][26] - The allowance for credit losses on loans was 290% of nonperforming loans at the end of Q2 2025, compared to 262% three months earlier [28] Mortgage Banking - Mortgage loan originations were $277.1 million in Q2 2025, up from $121.6 million in Q1 2025 and $181.5 million in Q2 2024 [5][39] - The provision for credit losses in the Home Mortgage Lending segment was $639,000 in Q2 2025, compared to a benefit of $307,000 in Q1 2025 [43] Specialty Finance Segment - The Specialty Finance segment includes Northrim Funding Services and Sallyport, which was acquired for approximately $53.9 million [51][52] - Total pre-tax income for Sallyport in Q2 2025 was $1.3 million, consistent with Q1 2025 [52]

Strategic Acquisition of Sallyport Commercial Finance Investor Presentation November 1, 2024 Nasdaq: NRIM 1 Forward Looking Statement This investor presentation may contain "forward-looking statements" as that term is defined for purposes of Section 21E of the Securities Exchange Act of 1934, as amended. These statements are, in effect, management's attempt to predict future events, and thus are subject to various risks and uncertainties. Readers should not place undue reliance on forward-looking statements ...

Investor Presentation Second Quarter 2024 Nasdaq: NRIM 1 Northrim Overview $2.8 billion community bank founded in 1990 to provide financial services to Alaskan residents and businesses Anchorage HQ & 9 Branches Nome Fairbanks Soldotna Kodiak Juneau Sitka Ketchikan Legend Scale:100mi Branches: 20 Homer Wasilla 1990 1999 2000 2007 2008 2014 2020 2021 Founded Acquired Bank of America Branches Wells Fargo acquisition of National Bank of Alaska Assets exceed $1 Billion Acquired Alaska First Bank & Trust Acquired ...

Investor Presentation Third Quarter 2024 Nasdaq: NRIM 1 Northrim Overview $3.0 billion community bank founded in 1990 to provide financial services to Alaskan residents and businesses Anchorage HQ & 9 Branches Nome Fairbanks Soldotna Kodiak Juneau Sitka Ketchikan Legend Scale:100mi Branches: 20 Homer Wasilla 1990 1999 2000 2007 2008 2014 2020 2021 Founded Acquired Bank of America Branches Wells Fargo acquisition of National Bank of Alaska Assets exceed $1 Billion Acquired Alaska First Bank & Trust Acquired ...

Investor Presentation Northrim Overview $3.0 billion community bank founded in 1990 to provide financial services to Alaskan residents and businesses 2024 Piper Sandler Bank & Thrift Sm-All Stars Fourth Quarter 2024 Nasdaq: NRIM 1 1990 1999 2000 2007 2008 2014 2020 2021 Founded Acquired Bank of America Branches Wells Fargo acquisition of National Bank of Alaska Assets exceed $1 Billion Acquired Alaska First Bank & Trust Acquired Alaska Pacific Bankshares Acquired 100% of Residential Mortgage, LLC Assets exc ...

Financial Performance - Net income for Q1 2025 was $13324 million, resulting in earnings per share of $238[8] - Net interest margin increased to 455% in Q1 2025[8] - Return on average assets (ROAA) reached 176% in Q1 2025[8] - Return on average equity (ROAE) was 1970% in Q1 2025[8] Balance Sheet - Total loans amounted to $2124 billion in Q1 2025[8] - Total deposits reached $2778 billion in Q1 2025[8] - The bank repurchased approximately 21% of its shares since 2019[16] Asset Quality - Non-performing assets (NPAs) to total assets, net of government guarantees, stood at 039%[8] - The allowance for credit losses (ACL) to portfolio loans was 098%[8] Strategic Initiatives - The bank's deposit market share has increased by 540 basis points since 2018[18] - Approximately 27% of the bank's deposits are non-interest bearing[20]